TechDMM Bitcoin exchange hacked, $305 million in Bitcoin stolen

DMM Bitcoin exchange hacked, $305 million in Bitcoin stolen

305 million dollars in bitcoins were stolen (Photo by Omer Taha Cetin/Anadolu via Getty Images)
305 million dollars in bitcoins were stolen (Photo by Omer Taha Cetin/Anadolu via Getty Images)
Images source: © Getty Images | Anadolu

8:03 AM EDT, June 1, 2024

Cybercriminals are not idle. Recently, a massive attack was launched on the DMM Bitcoin exchange, resulting in the theft of the equivalent of $305 million. It is one of the most significant attacks in the history of cryptocurrencies.

Vigilance and a healthy dose of skepticism are traits worth adhering to, mainly when thieves lurk at every turn, including online. From impersonating popular banks to mass DDoS attacks and organized actions targeting cryptocurrency exchanges, recent days have shown what determined cybercriminals are capable of.

The Japanese cryptocurrency exchange DMM Bitcoin reported an enormous hacking attack on Friday, during which 4,502.9 bitcoins, equivalent to approximately $305 million, were stolen, as reported by Tech Crunch.

One of the largest attacks in the history of cryptocurrencies

Elliptic, a company specializing in cryptocurrency security, stated that this is the eighth-largest cryptocurrency theft in history. DMM Bitcoin noticed an "unauthorized Bitcoin (BTC) leak from our wallet" and is still investigating. According to a post on the company's blog, steps have been taken to prevent further thefts, including limiting the use of specific services to ensure additional security.

The company assured us that all customer deposits would be fully secured and the missing BTC would be replenished with the support of companies from the DMM group.

A growing number of cyberattacks

According to De.Fi, a company specializing in web3 security, hackers stole around $2.1 billion in cryptocurrencies last year through numerous attacks. Although it is substantial, it is the lowest value since 2020.

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